Asian Stocks Up As Wall Street Surges

Asian shares surged Friday, July 14, 2023, after Wall Street’s winning streak barreled into a fourth day, buoyed by the latest signal that inflation may be easing, Yuri Kageyama reported for the Associated Press (AP).

Photo Insert: The Dow Jones Industrial Average rose 0.1% to 34,395.14, and the Nasdaq composite rallied 1.6% to 14,138.57 as Big Tech stocks led the way.

Japan’s benchmark Nikkei 225 gained 0.2% in morning trading to 32,493.82. Australia’s S&P/ASX 200 rose 0.9% to 7,309.50.

South Korea’s Kospi jumped 1.1% to 2,620.10. Hong Kong’s Hang Seng edged up 0.5% to 19,443.13, while the Shanghai Composite added 0.3% to 3,245.15. On Wall Street, the S&P 500 rose 0.8% to 4,510.04, its highest close since April 2022.

The Dow Jones Industrial Average rose 0.1% to 34,395.14, and the Nasdaq composite rallied 1.6% to 14,138.57 as Big Tech stocks led the way.

In energy trading, benchmark U.S. crude added 4 cents to $76.93 a barrel in electronic trading on the New York Mercantile Exchange. It picked up $1.14 on Thursday to $76.89 a barrel.

Brent crude, the international standard, rose 1 cent to $81.39 a barrel. In currency trading, the U.S. dollar edged down to 137.66 Japanese yen from 138.05 yen. The euro cost $1.1234, up from $1.1228, Stan Choe also reported for AP.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic